German S&P Global Manufacturing PMI Final (Oct) 54.2 vs. Exp. 54.2 (Prev. 53.9)

"Growth in both output and new orders was curtailed somewhat, but the respective rates of expansion nevertheless remained solid by historical standards, underpinned by a combination of burgeoning domestic demand linked in part to the German government’s defence and infrastructure spending, and recovering export sales". "However, a resurgence in the rate of input price inflation to the highest since May and a worsening of supply chain bottlenecks are both reminders of the downside risks to growth". "We are seeing signs that firms are planning for potential disruption and trying to mitigate further price increases, with stocks of purchases rising for the first time in almost four years".